Amend KRS 164.321 to increase the membership of the Kentucky Community and Technical College System (KCTCS) board of regents to a total of 17; reduce the terms of membership on a board of regents to 4 years; reduce the number of members allowed to reside in 1 county to 1 member; specify that the nonteaching member of a board of regents shall not be an employee who supervises more than 2 employees or reports directly to the president; specify that a member of a board of regents may be removed if the member does not attend 3 consecutive regularly scheduled meetings and the president requests the member's removal; amend KRS 164.350 to authorize the board of the KCTCS review the president's biennial budget and the budget planning and implementation processes; amend KRS164.365 to make technical corrections; amend KRS 164.580 to distinguish the responsibilities of the president of the KCTCS; create a new section of KRS Chapter 164 to require the president of the KCTCS to employ a chief financial officer and to specify the responsibilities of the chief financial officer; amend KRS 164.583 to make technical corrections; amend KRS 164.591 to require the president of the KCTCS to present a plan for review by the board of regents when considering the reduction, expansion, or creation of colleges, campuses, or programs, allow the president to conditionally implement the plan upon approval of the Council on Postsecondary Education; require KCTCS to submit a report to the appropriate committees of the General Assembly regarding the plan; require final approval of the plan by the General Assembly; require the KCTCS to submit a report to the Legislative Research Commission for referral to the appropriate committees regarding the properties utilized by the KCTCS; amend KRS 164.600 to define "campus" and "chancellor"; create a board of advisors for the KCTCS made up of the chancellor of each college of the system and others as appointed by the president; specify the responsibilities of the chancellor of each college; amend other sections of KRS Chapter 164 to conform; repeal KRS 164.586, 164.587, 164.594, 164.602, and 164.5833; provide for staggering of initial appointments.